CubeSmart (NYSE:CUBE) Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets grew its stake in shares of CubeSmart (NYSE:CUBE) by 32.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 158,472 shares of the real estate investment trust’s stock after acquiring an additional 39,270 shares during the quarter. BNP Paribas Financial Markets owned about 0.07% of CubeSmart worth $8,531,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its stake in CubeSmart by 14.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,089,845 shares of the real estate investment trust’s stock valued at $273,986,000 after purchasing an additional 624,661 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of CubeSmart by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,379,516 shares of the real estate investment trust’s stock valued at $152,652,000 after acquiring an additional 169,600 shares during the period. Charles Schwab Investment Management Inc. raised its stake in CubeSmart by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,032,885 shares of the real estate investment trust’s stock worth $163,260,000 after acquiring an additional 135,211 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in CubeSmart by 12.5% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,728,220 shares of the real estate investment trust’s stock worth $123,234,000 after acquiring an additional 303,347 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in CubeSmart by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,491,552 shares of the real estate investment trust’s stock valued at $112,543,000 after purchasing an additional 20,658 shares during the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Trading Down 0.6 %

Shares of CUBE opened at $49.26 on Tuesday. CubeSmart has a 52-week low of $39.80 and a 52-week high of $55.14. The stock has a market cap of $11.14 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 13.91 and a beta of 0.84. The firm’s fifty day moving average is $49.79 and its two-hundred day moving average is $48.12. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.24). The business had revenue of $270.90 million for the quarter, compared to analysts’ expectations of $267.49 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The firm’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 EPS. Research analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Jefferies Financial Group lifted their target price on CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Barclays decreased their price objective on shares of CubeSmart from $55.00 to $54.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Evercore ISI increased their price objective on shares of CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Royal Bank of Canada decreased their target price on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Finally, Scotiabank cut their price target on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $51.36.

CubeSmart Company Profile

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.